A MAJOR new development in Ashington will see more than 100,000 square feet of industrial units created at the former Lite-On factory. The site, now known as North Seaton Business Park, is being developed by Spencer Holdings from St Helen’s in the north-west. The company paid more than £1m for the site last year and originally intended to invest a further £4m in an office and industrial scheme. Now the company’s plans have been scaled back to investing £2.5m and the development will no longer involve any offices. Spencer Holdings is set to benefit from substantial public investment through the Local Enterprise Growth Initiative (LEGI) which is ploughing £11.8m into the Wansbeck district of Northumberland. Prices for the industrial units are set to be set around £4 or £4.50 per sq ft, matching the rates being charged for space at the nearby Northern Trust development. Spencer Holdings is close to submitting a planning application for the site and hopes to begin construction early next year. The company already owns 87 business parks and industrial estates around England and Wales and is now aiming to invest in Scotland. When the site was owned by Taiwanese company Lite-On, it employed 130 staff making power supplies for electronic equipment. The existing building contains a manufacturing complex including two subdivided buildings, industrial units and commercial offices. Spencer Holdings plans to refurbish these to create modern industrial space as well as building a new terraced industrial unit. This is expected to comprise 12 units of 1,600sq ft, capable of opening up into six units of 3,300sq ft, though the company is still finalising the detail of its proposals. Spencer Holdings director Christopher Hughes said: “Our latest investment in Ashington is part of our stated aim to add one million sq ft per year to the five million sq ft of space we have across the UK. The growth in small businesses and light industrial users in the North-East has created a healthy demand for small business units. Our investment in Ashington is a reaction to this. “The area with its proximity to roads like the A189, make it perfect for small firms who want to be close to transport networks. With Ashington’s potential we envisage further investment in the area over the next five years. “There were some offices there which we were leaving, but now for market requirements, we are taking them down. “Investment of £4m was initially quoted, but now our construction costs will be somewhat less than we thought. The total investment is now around £3.5m including the purchase price. “We are having to change the plans to demolish the offices. Since we are building an industrial park, the offices do not complement that.” Wansbeck Business Forum acting manager Lyndsey Archbold said: “A lot of businesses in the area are looking for smaller bases and the company’s plans to divide the space into small retail areas would meet this need.” Go Wansbeck, the body behind the Wansbeck Local Enterprise Growth Initiative (LEGI), has also backed the investment for its importance for new and growing businesses in the area. | 
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